IMF likely to revisit India’s growth forecast in July amid growing Covid crisis

The IMF has said that it will revisit India's growth forecast in July due to the ongoing Covid-19 crisis in the country. In its April forecast, IMF had predicted India's growth at 12.5 per cent for FY22.

The International Monetary Fund (IMF) has recently said it will revisit India’s growth forecast in view of the recent jump in Covid-19 cases in the country. In April, IMF had forecast the country’s economy to grow 12.5 per cent in FY22. However, the Fund may lower India’s growth in its next forecast in July as a deadlier Covid-19 wave has triggered stricter state-imposed restrictions, which have downside risks to the economy.